USD/JPY may fall 113 - 166 pips

Our pivot point stands at 147.86.

Our preference

The downside prevails as long as 147.86 is resistance.

Alternative scenario

The upside breakout of 147.86, would call for 148.74 and 149.27.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 147.54 and 147.41).

Supports and resistances

149.27 **

148.74 *

147.86 **

147.52

147.09 last

145.96

145.43 **

144.91 *

144.38 **

Number of asterisks represents the strength of support and resistance levels.